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What is the scheme- SBI has told through its Twitter handle that investors have a great opportunity to invest in Gold Bond. Bonds will be issued every month from October 15, 2018 to February 2019. In the first phase, investors can subscribe to Bond between October 15 and October 19. However, these bonds will be issued from October 23.
Make Money from Gold For more information and to apply for the scheme, visit https://t.co/6WR9ByksOq. Period of subscription: 15th to 19th October 2018#SBI #StateBankOfIndia #SovereignGoldBonds #Investment pic.twitter.com/4EYkUsiF6L
– State Bank of India (@TheOfficialSBI) October 11, 2018
What is the price of Bond- Gold with 99.9% purity fixed by the Indian Bullion and Zoolars Association will equal the average price of three days of gold. However, subscribers who subscribe to online bonds and pay in digital mode will be given a discount of Rs.50 per cigarette.
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When will you withdraw money- These bonds can be purchased by the Bank, Stock Holding Corporation of India Limited, in addition to the selected post office, through stock exchanges. These bonds will be maturing after 8 years. It is clear that after eight years, money can be withdrawn after redemption. However, investors can redeem Bond in the fifth, sixth or seventh year.
CAS Buy- Investors can make demand draft, check or online payments to buy bonds. Apart from this, cash payments will also be available but in this situation, they can buy bonds worth a maximum of Rs. 20,000.
Any indigenous, Hindu Undivided Family, Trust, Universities and Charitable organizations of the country can buy this bond. Investors can buy bonds of at least one gram or its multiplier.
Individual 500 Grams and Hindu Undivided Families can purchase Bond upto a maximum of 4 Kgs. Of gold during one year. But institutions are allowed to buy bonds worth 20 kg.
Visit the SBI website for more information: https://bank.sbi/portal/web/personal-banking/sovereign-gold-bonds